Manchester United minority owner Sir Jim Ratcliffe has increased the size of his stake in the club, signifying his interest in growing his influence at Old Trafford.
The Daily Mail reported today that Ratcliffe and his INEOS group have injected an additional £79 million into the club to increase their stake to 28.94%.
“A filing listed on the US Securities and Exchange Commission has confirmed the final payment of $100m (£79m) and a raise in shareholding to 28.94 per cent. It has also disclosed that ownership of those shares has transferred from Ratcliffe to Ineos,” the report read.
“Mail Sport understands that the £79m is not earmarked to go into a January war chest for new manager Ruben Amorim. The investment had been earmarked for infrastructure but will be used across the club,” the article continued.
Man United have undergone several significant changes since the arrival of INEOS at the club earlier this year, when Ratcliffe paid £1.2 billion for 27.7% ownership.
This includes the overhauling of the club’s leadership structure, with Omar Berrada taking over as CEO while Jason Wilcox was appointed as the new technical director.
While Dan Ashworth was recruited as sporting director, he was subsequently sacked, spending just five months in the role.
Of course, one of the most drastic changes made by INEOS was the replacement of Erik ten Hag with Ruben Amorim.
While life did not get off to an easy start for United’s new manager, Amorim has managed to pull off some impressive results since arriving at the club, including last weekend’s thrilling 2-1 win away at Manchester City.
But even as United appear to be undergoing a rebuild, Ratcliffe’s reign has not been without its controversies.
Following Ashworth’s departure, it was reported that a culture of fear was brooding over the club staff.
This wasn’t helped by INEOS’ previous cost-cutting decision to lay off 250 staff members.
Still, United do appear to be improving their fortunes on the football pitch during the INEOS era. Fans will no doubt be hopeful that Ratcliffe’s growing influence will help to accelerate the club’s rebuild to once again become an elite team that competes at the highest level.
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Mathew Cohen
A faithful Manchester United supporter, Mathew has worked as a football writer and analyst for SB Nation, FanSided, and now The Peoples Person. Mathew’s heroes include David Beckham, Cristiano Ronaldo, and Sir Alex Ferguson, all of whom played their part in creating some special childhood memories.
